english version annual report IMOS Brno, a.s. 2012

Transcription

1 annual report 2012

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3 annual report IMOS Brno, a.s english version

4 Contents Basic Data about the Company and its Bodies...3 Human Resources, Turnover, Organisational Structure...4 Balance sheet...5 Profit and Loss Statement...7 Cash flow Statement...8 Notes to the Financial Statement...9 Auditor s Report annual report 2012

5 Basic Data about the Company and its Bodies Name: IMOS Brno, a.s. Head office: Olomoucká 174, Brno Incorporated by: Commercial Register kept by the Regional Court in Brno, section B, file 2211 Date of incorporation: ID no.: Tax ID no.: CZ Tel.: , Fax: , Legal form: Joint-stock company Statutory body: Board of Directors Registered capital: 205,000,000 CZK Shareholder holding more than 20% of shares: IMOS holding, a.s. Stock: 204 registered shares in the par value of 1,000,000 CZK each 2 registered shares in the par value of 500,000 CZK each BOARD OF DIRECTORS OF THE COMPANY Ing. Oldřich Štercl Chairman of the Board and Managing Director Ing. Jan Sniegon Vice Chairman of the Board and Ostrava Branch Director Ing. Milan Karásek Member of the Board and Civil Engineering Brno Branch Director Ing. Robert Suchánek Member of the Board and Water Management Structures and Road Construction Brno Branch Director SUPERVISORY BOARD Ing. Jiří Rulíšek Chairman of the Supervisory Board Ing. Ivan Sigmund Member of the Supervisory Board Ing. Radomír Vostal Member of the Supervisory Board Company Profile and Integrated Quality Management System A) Civil engineering industrial plants shopping malls civil facilities B) Water management structures Sewerage systems, waste water treatment plants, water ducts and water course management structures Complete networks of technical infrastructure, landscaping, extensive earthworks C) Road construction Motorways, expressways, roads, bridges and engineering structures D) Road development and accredited testing laboratory annual report

6 Human Resources, Turnover The company has always paid great attention to the selection of its employees. We strive to get top quality professionals and support them in improving their specialist skills in order to satisfy investors needs. This is also demonstrated by the ever growing number of authorised engineers and technicians working for the company at the moment there are 45 of them. The table below shows the average headcount in previous years. The other table shows the company s turnover in the last decade. Overview of average annual headcount in total rok Turnover (billions CZK) rok Organisational Chart IMOS Brno, a.s. Board of Directors Managing Director Slovakia Branch Legal Services (external) Brno Branch Civil Engineering Business Department Road Development Division Property Management Department Technical Department Brno Ostrava Branch Brno Branch Water Management and Road Structures Department of Technical Services of Production Finance and Administration Department 4 annual report 2012

7 Balance sheet Reference Assets Row Current accounting period Previous period a b c Gross 1 Adjustment 2 TOTAL ASSETS (r ) A. Receivables from subscriptions B. Fixed assets (r ) B. I. Intangible fixed assets (r. 05 to 12) B. I. 1. Incorporation expenses B. I. 2. Research and development B. I. 3. Software B. I. 4. Valuable rights B. I. 5. Goodwill B. I. 6. Other intangible fixed assets B. I. 7. Intangible fixed assets under construction B. I. 8. Advance payments for intangible fixed assets B. II. Tangible fixed assets (r.14 to 22) B. II. 1. Lands B. II. 2. Constructions B. II. 3. Equipment B. II. 4. Perennial crops B. II. 5. Breeding and draught animals B. II. 6. Other tangible fixed assets B. II. 7. Tangible fixed assets in progress B. II. 8. Advance payments for tangible fixed assets B. II. 9. Adjustment to acquired assets B. III. Long-term financial assets (r. 24 to 30) B. III. 1. Shares in controlled and managed organizations B. III. 2. Shares in accounting units with substantial influence B. III. 3. Other securities and shares B. III. 4. Loans to controlled and managed organizations and to accounting unit with substantial influence B. III. 5. Other financial investments B. III. 6. Financial investments acquired B. III. 7. Advance payments for long-term financial assets C. Current assets (r ) C. I. Inventory (r.33 to 38) C. I. 1. Materials C. I. 2. Work in progress and semi-products C. I. 3. Finished goods and products C. I. 4. Young and other animals and their groups C. I. 5. Merchandise C. I. 6. Advance payments for inventory C. II. Long-term receivables (r. 40 to 47) C. II. 1. Trade receivables C. II. 2. Receivables from controlled and managed organizations C. II. 3. Receivables from accounting units with substantial influence C. II. 4. Receivables from partners, cooperative members and association members C. II. 5. Long-term deposits given C. II. 6. Estimated receivable C. II. 7. Other receivables C. II. 8. Deferred tax receivable C. III. Short-term receivables (r. 49 to 57) C. III. 1. Trade receivables C. III. 2. Receivables from controlled and managed organizations C. III. 3. Receivables from accounting units with substantial influence C. III. 4. Receivables from partners, cooperative members and association members C. III. 5. Receivables from social security and health insurance C. III. 6. Due from state tax receivable C. III. 7. Short-term deposits given C. III. 8. Estimated receivable C. III. 9. Other receivables C. IV. Short-term financial assets (r. 59 to 62) C. IV. 1. Cash C. IV. 2. Bank accounts C. IV. 3. Short-term securities and ownership interests C. IV. 4. Short-term financial assets acquired D. I. Accruals (r. 64 to 66) D. I. 1. Deferred expenses D. I. 2. Complex deferred costs D. I. 3. Deferred income Net 3 Net 4 annual report

8 Balance sheet Reference Liabilities Row Current accounting period Previous accounting period a b c 5 6 TOTAL LIABILITIES (r ) A. Equity (r ) A. I. Registered capital (r. 70 to 72 ) A. I. 1. Registered capital A. I. 2. Company's own shares and ownership interests (-) A. I. 3. Changes of registered capital (+/-) A. II. Capital funds (r. 74 to 78) A. II. 1. Share premium A. II. 2. Other capital funds A. II. 3. Differences from revaluation of assets and liabilities (+/-) A. II. 4. Differences from revaluation in transformation (+/-) A. II. 5. Differences from company transformations A. II. 6. Differences from valuation of company transformations A. III. Reserve funds, indivisible fund and other profit-based funds (r ) A. III. 1. Legal reserve fund / indivisible fund A. III. 2. Statutory and other funds A. IV. Profit / loss previous year(r ) A. IV. 1. Retained earnings from previous years A. IV. 2. Accumulated losses from previous years A. IV. 3. Other profit/loss from previous years A. V. Profit / loss current accounting period (+/-) B. Other sources (r ) B. I. Reserves (r. 90 to 93) B. I. 1. Reserves under special statutory regulations B. I. 2. Reserves for pension and similar payables B. I. 3. Income tax reserves B. I. 4. Other reserves B. II. Long-term payables (r. 95 to 104) B. II. 1. Trade payables B. II. 2. Payables to controlled and managed organizations B. II. 3. Payables to accounting units with substantial influence B. II. 4. Payables from partners, cooperative members and association members B. II. 5. Long-term advances received B. II. 6. Issues bonds B. II. 7. Long-term notes payables B. II. 8. Estimated payables B. II. 9. Other payables B. II. 10. Deferred tax liability B. III. Short-term payables (r. 106 to 116) B. III. 1. Trade payables B. III. 2. Payables to controlled and managed organizations B. III. 3. Payables to accounting units with substantial influence B. III. 4. Payables from partners, cooperative members and association members B. III. 5. Payroll B. III. 6. Payables to social security and health insurance B. III. 7. Due from state tax liabilities and subsidies B. III. 8. Short-term deposits received B. III. 9. Issues bonds B. III. 10. Estimated payables B. III. 11. Other payables B. IV. Bank loans and financial accommodations (r. 118 to 120) B. IV. 1. Long-term bank loans B. IV. 2. Short-term bank loans B. IV. 3. Short-term accommodations C. I. Accruals (r ) C. I. 1. Accrued expenses C. I. 2. Deferred revenues annual report 2012

9 Profit and loss statement Reference Text Row Accounting period a b c Current period 1 Previous period 2 I. Revenues from sold goods A. Expenses on sold goods Sale margin (r ) II. Production (r. 05 to 07) II. 1. Revenues from own products and services II. 2. Change in inventory of own products II. 3. Capitalisation B. Production consumption (r ) B. 1. Consumption of material and energy B. 2. Services Added value (r ) C. Personnel expenses (r ) C. 1. Wages and salaries C. 2. Remuneration of board members and association members C. 3. Social security expenses and health insurance C. 4. Other social expenses D. Taxes and fees E. Depreciations of intangible and tangible assets III. Revenues from disposals of fixed assets and materials (r ) III. 1. Revenues from disposals of fixed assets III. 2. Revenues from disposals of materials F. Net book value of disposed fixed assets and materials (r ) F. 1. Net book value of sold fixed assets F. 2. Net book value of sold material G. Change in operating reserves and adjustments and complex deferred costs IV. Other operating revenues H. Other operating expenses V. Transfer of operating revenues I. Transfer of operating expenses * Operating profit / loss /(r (-28)-(-29)/ VI. Revenues from sales of securities and ownership interests J. Sold securities and ownership interests VII. Revenues from long-term financial assets (r ) VII. 1. Revenues from shares in controlled and managed organizations and in accounting units with substantial influence VII. 2. Revenues from others securities and ownership interests VII. 3. Revenues from other long-term financial assets VIII. Revenues from short-term financial assets K. Expenses associated with financial assets IX. Revenues from revaluation of securities and derivatives L. Cost of revaluation of securities and derivatives M. Change in financial reserves and adjustments X. Interest revenues N. Interest expenses XI. Other financial revenues O. Other financial expenses XII. Transfer of financial revenues P. Transfer of financial expenses * Profit / loss from financial operations (transactions) /(r (-46)+(-47))/ Q. Income tax on ordinary income (r ) Q. 1. Due tax Q. 2. Tax deferred ** Operating profit / loss on ordinary activity (r ) XIII. Extraordinary revenues R. Extraordinary expenses S. Income tax on extraordinary income (r ) S. 1. Due tax S. 2. Tax deferred * Operating profit / loss extraordinary activity (r ) T. Transfer profit ( loss ) to partners (+/-) *** Profit / loss of current accounting period (+/-) (r ) **** Profit / loss before tax (+/-) (r ) annual report

10 Cash flow statement Item Text Current accounting period P. Balance of cash on hand and financial equivalents as at the beginning of reporting period CASH FLOWS FROM MAIN ACTIVITIES (operating activities) Z. Accounting profit/loss from running activities before taxation A. 1. Adjustments by non-cash operations A Depreciation of fixed assets and amortization of adjustments to acquired assets A Change in balance of adjustments and reserves A Profit from sales of fixed assets -237 A Revenue from dividends and shares in profit 0 A Accounted for interest expense, exclusive of interest capitalization and accounted for credit interest A Possible adjustments by other non-cash operations 0 A. * Net cash flow from running activities before taxation, changes in working capital and unusual/extraordinary items A. 2. Change in non-cash items of working capital A Change in balance of receivables from running activities, temporary assets accounts A Change in balance of short-term payables from running activities, temporary liability accounts A Change in balance of inventory A Change in balance of current liquid assets not included in cash or equivalents 0 A. ** Net cash flow from running activities before taxation and unusual/extraordinary items A. 3. Interests paid exclusive of interest capitalization A. 4. Interests received A. 5. Income tax for running activities and additional tax assessments for previous periods A. 6. Income and expense on unusual and/or extraordinary items, including income tax 173 A. 7. Received dividends and shares in profit 0 A. *** Net cash flow from running activities CASH FLOWS FROM INVESTING ACTIVITIES B. 1. Expense on fixed assets acquisition B. 2. Income from fixed assets sales 237 B. 3. Loans to related parties 0 B. *** Net cash flow from investing activities CASH FLOWS FROM FINANCING ACTIVITIES C. 1. Change in balance of long-term or short-term payables C. 2. Impact of changes in equity on cash on hand and financial equivalents C Increase in cash on hand as a result of increased registered capital, share premium etc. 0 C Payment of share in equity to partners 0 C Other contributions of cash by partners and shareholders 0 C Loss coverage by partners 0 C Direct debit fund payments 0 C Dividends paid or shares in profit, including taxes paid C. *** Net cash flow from financing activities F. Net increase/decrease in cash on hand R. Balance of cash on hand and financial equivalents as at the end of reporting period annual report 2012

11 Notes to the financial statement (fiscal year 2012) 1. GENERAL DATA Accounting unit description Registration date in the Commercial Register: 01/01/1997 Business name: IMOS Brno, a.s. Head office: Olomoucká 174, Brno Identification number: Regional Commercial Court in Brno, section B, insert 2211 Main business objective: Performing constructions, including their modifications, maintenance work and removal Joint stock company Joint stock company Shareholders whose stakes exceeds 20%: IMOS holding, a.s., company registration No Olomoucká 174, Brno Registered capital: 30,000,000 CZK Registered capital share: 100% More than 20 % share in the registered capital in other companies: IMOS Invest I, spol. s r.o., company registration No Olomoucká 174, Brno Registered capital: 15,000,000 CZK Registered capital share: 100% In 2004, the Company IMOS Brno, a.s. established an organizational branch with the head office in Slovakia: IMOS Brno, a.s. Organisational Branch of the Company Májová 1319, Čadca, SK Company registration No.: , VAT No.: SK Statutory bodies: Chairman of the Board of Directors: Ing. Oldřich Štercl Hájek 882/4, Klobouky u Brna Vice Chairman of the Board of Directors: Ing. Jan Sniegon Lyžbická 1191, Třinec Member of the Board of Directors: Ing. Milan Karásek Ostružinová 498/3, Brno Ing. Robert Suchánek Tvaroženská 109, Jiříkovice Supervisory Board Chairman: Ing. Jiří Rulíšek Velká Morava 45, Dolní Morava Members: Ing. Ivan Sigmund Pod Skalkou 10, Nový Jičín Ing. Radomír Vostal Kuršova 3, Brno Average number of employees during the accounting period: 655 Management: 14 Labour costs recapitulation (in T CZK): of which Employees Members of Executive Management Bodies Labour costs Health insurance and social security costs Several of the executives of individual sections, divisions and departments are entitled to use company cars, which is, in compliance with Section 6 of Act No. 586/1992 Coll., as amended, considered as part of employee s income. Until now, the members of the statutory or any other supervisory bodies have not been granted any loan by the Company. annual report

12 2. INFORMATION CONCERNING THE ACCOUNTING PROCEDURES APPLIED, GENERAL ACCOUNTING PRINCIPLES AND METHODS OF VALUATION 2.1. The mode of inventory valuation corresponds to purchase prices. Additional acquisition costs of merchandise are concentrated in separate analytical accounts. These expenses are discharged in costs on a monthly basis proportionately to the amount of the material consumed. It is FIFO that has been applied as a mode of keeping stock records. Activated long-term tangible assets are valued on the level of real costs The mode of replacement purchase price determination of assets is based on the arithmetic mean of prices taken from expert opinions usually carried out with the help of three different methods of replacement price determination. In this accounting period, no such assets have been acquired Other accessory acquisition costs represent customs duties, additional charges, intermediary fees, carriage charges, etc Fiscally effective adjusting items have been set up in accordance with the law, their total sum reaching T CZK. Furthermore, a non-fiscal adjusting item in the amount of T CZK has been created. See the Off Balance Sheet for further details Accounting depreciations are carried out using a uniform depreciation method. The beginning of accounting depreciation takes place in the month following the filing. Individual accounting groups are depreciated as follows: 1. Tax group 1 3 years 2. Tax group 2 5 years 3. Tax group 3 10 years 4. Tax group 4 20 years 5. Tax group 5 30 years 6. Tax group 6 50 years The second and third tax groups are depreciated in an accelerated or uniform way, if possible, depending on the assets type. The first, fourth, fifth and sixth tax groups are depreciated in a uniform way. As far as the deposited assets are concerned, the original depreciation method has been used further on For the conversion of foreign currencies, a valid CNB rate is used on the date of performing the accounting operation. The record keeping of foreign invoices is performed on the day when the invoice was issued. The payment is considered to be the date when the sum was debited. 3. ADDITIONAL INFORMATION REGARDING THE BALANCE SHEET AND THE PROFIT AND LOSS STATEMENT 3.1. Tangible and intangible fixed assets excluding receivables 3.1.a. Long-term assets depreciated in accordance with the groups on 31 March 2013 Account 022 Account 082 T CZK T CZK Group 3 Machinery Group 4 Appliances Group 5 Equipment Group 6 Means of transport Group 7 Inventory Small long-term assets (acquisition costs less than 40,000 CZK) acquired before Software Account 013 Account 073 T CZK T CZK Status as per 1 April Status as per 31 March Small long-term assets (acquisition costs less than 60,000 CZK) acquired before b. Tangible long-term assets acquired through financial leasing The total amount of leasing instalments due: 0 10 annual report 2012

13 3.1.c. Increments and decrements of fixed and intangible assets for the fiscal year 2012 (except for small fixed assets and small intangible assets) in T CZK Account Initial status Increment Decrement Final status 013/ / / / / Celkem d. 3.1.e. The sum of assets not included in the Balance Sheet Low-value assets kept in the operational records at the purchase price: Assets specification burdened with lien As per 31 March 2013, the Company does not have any assets burdened with lien T CZK 3.2. Receivables 3.2.a. Total overdue receivables: T CZK Up to 30 days: T CZK Up to 90 days: T CZK Over 90 days: T CZK 3.2.b. 3.2.c. 3.2.d. Long-term receivables Long-term trade receivables included in the Balance Sheet are created by retention sums of payments based on contractual stipulations, plus the amount of T CZK by virtues of credits and loans granted. The sum of receivables in the amount of T CZK from consortium members consists of the claims made upon the consortium members participating in those consortiums of which we are members, primarily in regard of division of net income. The Company keeps in its books a deposit bill of exchange upon the UNION Bank. This bill of exchange has been claimed in the bankruptcy proceedings. No adjusting item has been created to this bill of exchange. Collaterals and bills of exchange received and issued are recorded in the Off Balance Sheet Equity 3.3.a. Company s equity as of 31 March T CZK 3.3.b. 3.3.c. The division of profit made in the previous accounting period From the profit made in the accounting period 2011 in the amount of T CZK, the Board of Directors has taken the decision to pay out the profit in the form of dividends in the overall amount of T CZK. The remaining profit in the amount of T CZK has been carried forward to the retained earnings account. Registered capital The amount of the registered capital is 205 Mio CZK. The registered capital consists of 204 shares in the par value of CZK each and 2 shares in the par value of CZK each Trade Payables (in thousands CZK) 3.4.a. Total overdue payables: T CZK Up to 30 days: 707 T CZK Up to 90 days: T CZK Over 90 days: T CZK Of which dubious payables T CZK Other overdue payables of T CZK were settled to the date of the financial statements. 3.4.b. Out of which payables to the companies within the group: 0 Kč 3.4.c. The Company does not have any payables covered by lien. annual report

14 3.4.d. The Company does not have any payables not included in the bookkeeping as per 31 March e. Long-term trade payables included in the Balance Sheet consist of retention sums of payments based on contractual stipulations Payables to employees Payables of wages/salaries in March Other payables to employees Total T CZK 261 T CZK T CZK 3.5. Reserves 3.5.a. The company did not create any reserve for the repairs of tangible fixed assets Company revenues divided according to main activities: Activity Amount in thousands T CZK Transport 744 Laboratories, research and development Mechanisation Repair shops 601 Design Civil engineering Auxiliary civil engineering Roads and bridges Building administration Company management Water management structures Total The performance includes the revenues from the sales of the Company s products and services, revenues from the sales of its assets and materials, other operating revenues, and the revenues from the Company s financial activities Shares in controlled and managed parties IMOS Invest I, spol. s r.o., company registration No , Olomoucká 174, Brno Registered capital: Registered capital share: 100% T CZK T CZK 4. ESTIMATED RECEIVABLES The sum of the estimated items in the amount of T CZK consists of estimated items based on so far non-disclosed insurance claims and unbilled services. 5. ESTIMATED PAYABLES The sum of the estimated items in the amount of T CZK consists of estimated items based on unbilled supplies and deliveries provided by subcontractors. 6. INCOME TAX State tax obligations and subsidies Income tax Dependent activity tax Total State tax receivables and subsidies VAT claim Total T CZK T CZK T CZK T CZK T CZK The calculation of the deferred tax obligation consists of the difference between the tax and net book value, and it amounts to T CZK. A report entitled Report on the relations between related parties as per 31 March 2013 has been prepared. The report is kept on file in the Company s head office. No significant or substantial change occurred before the preparation of the financial statement. 12 annual report 2012

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18 IMOS Brno, a.s. Olomoucká Brno Czech Republic Phone: Fax: